Gold Hits Four-month High, Later Sinks

Gold fell 0.6 percent, or $7.99, to $1,332.60 an ounce today, according to Reuters. Earlier in the session, it hit $1,345.35 an ounce, its highest price since October 30. Meanwhile, US gold futures for April delivery were down 0.6 percent, or $8, to $1,334.10 an ounce.

“(Gold’s gains are) not really a runaway, we are just grinding higher and you could argue that the latest entrants to the market are looking for additional gains and if they don’t get that they might be quick to pull the trigger again to get out,” Ole Hansen, senior manager at Saxo Bank, told the news outlet. “It looks like most people are not seeing the upside going much above $1,350/1,400.”